Hong Kong SAR, China: Market for Electric Shavers, Hair-Removing Appliances And Hair Clippers 2024

Market Size for Electric Shavers, Hair-Removing Appliances And Hair Clippers in Hong Kong SAR, China

In 2022, the Hong Kong market for electric shavers, hair-removing appliances and hair clippers increased by 72% to $X, rising for the second consecutive year after two years of decline. Overall, consumption showed a significant expansion. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Electric Shavers, Hair-Removing Appliances And Hair Clippers in Hong Kong SAR, China

In value terms, production of electric shavers, hair-removing appliances and hair clippers reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 54% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production of growth failed to regain momentum.

Exports of Electric Shavers, Hair-Removing Appliances And Hair Clippers

Exports from Hong Kong SAR, China

For the third consecutive year, Hong Kong SAR recorded decline in shipments abroad of electric shavers, hair-removing appliances and hair clippers, which decreased by -68.5% to X units in 2022. Overall, exports continue to indicate a sharp reduction. The pace of growth appeared the most rapid in 2019 when exports increased by 26%. Over the period under review, the exports of reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of electric shavers, hair-removing appliances and hair clippers shrank dramatically to $X in 2022. Over the period under review, exports faced a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 13% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units), the United States (X units) and Japan (X units) were the main destinations of exports of electric shavers, hair-removing appliances and hair clippers from Hong Kong SAR, with a combined 48% share of total exports. Australia, Belgium, the UK, India, Mexico, Germany, the United Arab Emirates, Poland, Chile and Malaysia lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +99.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for electric shavers, hair-removing appliances and hair clippers exports from Hong Kong SAR, comprising 56% of total exports. The second position in the ranking was held by Japan ($X), with a 6.9% share of total exports. It was followed by the United States, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +37.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-27.1% per year) and the United States (-17.1% per year).

Export Prices by Country

The average export price for electric shavers, hair-removing appliances and hair clippers stood at $X per unit in 2022, jumping by 47% against the previous year. In general, the export price enjoyed a prominent increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electric Shavers, Hair-Removing Appliances And Hair Clippers

Imports into Hong Kong SAR, China

In 2022, imports of electric shavers, hair-removing appliances and hair clippers into Hong Kong SAR dropped markedly to X units, which is down by -63.6% against the previous year's figure. Overall, imports faced a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, imports of electric shavers, hair-removing appliances and hair clippers declined rapidly to $X in 2022. Over the period under review, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2018 with an increase of 21%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest electric shavers, hair-removing appliances and hair clippers supplier to Hong Kong SAR, with a 70% share of total imports. Moreover, imports of electric shavers, hair-removing appliances and hair clippers from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), sixfold. The third position in this ranking was held by Germany (X units), with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to -22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+8.4% per year) and Germany (+25.7% per year).

In value terms, the largest electric shavers, hair-removing appliances and hair clippers suppliers to Hong Kong SAR were China ($X), the Netherlands ($X) and Germany ($X), with a combined 81% share of total imports.

Germany, with a CAGR of +24.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for electric shavers, hair-removing appliances and hair clippers amounted to $X per unit, rising by 65% against the previous year. In general, the import price continues to indicate strong growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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